Indications by the FMA Liechtenstein

16.09.2021 - Warning of ETD Solution Ltd.

The Financial Market Authority Liechtenstein (FMA) points out that ETD Solution Ltd., Mauren, is not licensed by the FMA, and therefore as the operator of the website https://etd-solution(dot)com is not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

It is highly recommended not to use the website https://etd-solution(dot)com for financial services.

06.07.2021 - Warning of clone firm

The FMA points out that Bank Frick or Bank Frick Gruppe as the operator of the website www[dot]bankfrickgroup[dot]com, which offers financial services under the name Bank Frick or Bank Frick Gruppe and presents itself as a financial institution domiciled in Liechtenstein, is not licensed by the FMA.

The FMA informs that there is no connection between Bank Frick or Bank Frick Gruppe or the website www[dot]bankfrickgroup[dot]com and Bank Frick & Co. AG domiciled in Liechtenstein.

It is highly recommended not to use the website www[dot]bankfrickgroup[dot]com for financial services.

08.06.2021 - Warning notice: dcapital(dot)global

The Liechtenstein Financial Market Authority (FMA) points out that the operator of the website www(dot)dcapital(dot)globald does not have a FMA authorisation and is therefore not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA urgently advises against making any investments via the website www(dot)dcapital(dot)global, responding to any investment offers made by this company or transferring money to any account number they might mention.

30.04.2021 - Warning of clone firm

The Financial Market Authority (FMA) Liechtenstein points out that there is no connection between the website LCXAirdrop(dot)com and LCX AG, Herrengasse 6, 9490 Vaduz, (registration number: FL-0002.580.678-2).

The operators of the website LCXAirdrop(dot)com are wrongfully making use of the name and identity of the aforementioned Liechtenstein company, which is a registered TT service provider.

The FMA urgently advises not to make investments via the website LCXAirdrop(dot)com nor to respond to any offers made on this website or any contact initiated by its operators. The FMA also advises against transferring money or tokens to the accounts or wallet addresses mentioned on the website. Wrongful claiming of the identity of an actually existing company is an attempt to obtain assets that may result in the investor’s total loss of the supposed investment.

30.03.2021 - Warning Notice

The Financial Market Authority (FMA) Liechtenstein points out that there is no connection between the operators of the website fidares-am(dot)com, offering financial services under the name of “FIDARES ASSET MANAGEMENT”, and Fidares Asset Management AG, Essanestrasse 91, 9492 Eschen, Commercial Register FL-0002.041.920-5.

The operators of the website fidares-am(dot)com do not have a FMA authorization and are therefore not allowed to provide any financial services that are subject to authorization under Liechtenstein law.

The FMA urgently advises not to make any investments via the website fidares-am(dot)com nor responding to any investment offers made by this company or against transferring money to any account number they might mention. Wrongful claiming the identity of an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

24.02.2021 - Warning notice: www[dot]investexp[dot]de

The Financial Market Authority (FMA) Liechtenstein points out that the operators of the following websites do not have a special legal authorization from the FMA and are not allowed to offer financial services requiring a special legal authorization.

  • www[dot]investexp[dot]de
  • www[dot]finanzexp[dot]de
  • www[dot]beexp[dot]de
  • www[dot]europexp[dot]de

In addition, the logo of the FMA is inadmissibly used in contractual documents, thus creating the false appearance of a supervision by the FMA.

It is highly recommended not to use the websites for financial services.

23.02.2021 - Warning of clone firm

The Financial Market Authority (FMA) Liechtenstein points out that there is no connection between the operators of the website zeuzycentral(dot)com, offering financial services under the name of “ZEHENTER INVEST AG, and Zehenter & Partner Invest AG, Im alten Riet 153, 9494 Schaan, Commercial Register FL-0002.501.228-0.

The operators of the website zeuzycentral(dot)com do not have a FMA authorization and are therefore not allowed to provide any financial services that are subject to authorization under Liechtenstein law.

The FMA urgently advises not to make any investments via the website zeuzycentral(dot)com nor responding to any investment offers made by this company or against transferring money to any account number they might mention. Wrongful claiming the identity of an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

26.01.2021 - Warning of counterfeit policies

The FMA Liechtenstein has been informed by Allianz Risk Transfer AG, an non-life insurance undertaking of the Allianz group having its seat in Liechtenstein, that counterfeit policies were issued in the name of Allianz Risk Transfer AG or Allianz Partners – AWP P&C Ltd. The FMA recommends to look out for irregularities and verify that the acting broker holds the necessary license before entering into an insurance contract. In case of uncertainty, it is recommended to contact the relevant insurance undertaking or the competent supervisory authority.

04.12.2020 - Warning notice: www[dot]lamdabank[dot]com

The FMA points out that “Lamda Private Bank” as the operator of the website www[dot]lamdabank[dot]com, which offers financial services under the name Lamda Private Bank or Lamda PrivatBank AG and presents itself as a financial institution domiciled in Liechtenstein, is not licensed by the FMA.

The FMA informs that there is no connection between Lamda Private Bank or Lamda PrivatBank AG or the website www[dot]lamdabank[dot]com and Union Bank Ltd. in liquidation (formerly Lamda Privatbank Ltd.), which is domiciled in Liechtenstein.

It is highly recommended not to use the website www[dot]sigmabunq[dot]com for financial services.

03.12.2020 - Warning of clone firm

The Financial Market Authority (FMA) Liechtenstein points out that there is no connection between the operators of the website https://aristo[dot]investments/ and Aristo Investment Management AG, Städtle 27, 9490 Vaduz, Commercial Register FL-0002.104.125-8.

The operators of the website do not have a FMA authorization and are therefore not allowed to provide any financial services that are subject to authorization under Liechtenstein law.

The FMA urgently advises not to make any investments via the website https://aristo[dot]investments/ nor responding to any investment offers made by this company or against transferring money to any account number they might mention. Wrongful claiming the identity of an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

23.07.2020 - Warning notice: www[dot]sigmabunq[dot]com

The FMA points out that SIGMA BANK SA as the operator of the website www[dot]sigmabunq[dot]com, which offers financial services under the name SIGMA BANK and presents itself as a French financial institution, is not licensed by the FMA or the French AMF (Autorité des marchés financiers).

The FMA informs that there is no connection between SIGMA BANK SA or the website www[dot]sigmabunq[dot]com and SIGMA Bank AG, which is a licensed bank in Liechtenstein.

It is highly recommended not to use the website www[dot]sigmabunq[dot]com for financial services.

08.07.2020 - Notice: ETR AG

By order of 7 July 2020, the FMA prohibited ETR AG, Aeulestrasse 74, 9490 Vaduz, FL-0002.616.922-1 from issuing e-money or accepting deposits and other repayable funds by notification of the decision in question and and ordered the repayment of the funds received.

ETR AG is the operator of the website https://blocktrade[dot]com/ ("Blocktrade Platform"). In this context, the company accepts funds for the purpose of issuing e-money or as deposits or other repayable funds.

ETR AG is thereby conducting the business of issuing e-money or accepting deposits and other repayable funds without required authorisation from the FMA.

This order is immediately enforceable, but not yet final.

20.05.2020 - Warning: ADCADA Investments AG PCC and ADCADA Immobilien AG PCC

The FMA points out that for the bonds „ADCADA.healthcare Anleihe 2020“, „adcada.money Hypozins“ and „adcada.money Festzins” issued by ADCADA Investments AG PCC, Ruggell, registration number FL-0002.600.340-0, and ADCADA Immobilien AG PCC, Ruggell, registration number FL-0002.605.851-4, no prospectuses were approved. Offers are made without an approved securities prospectus by the supervisory authority.

Further information on the approval of securities prospectuses is available on the FMA's website. The FMA points out that every investment in securities involves certain risks. Investors therefore should carefully consider the risks and seek advice.

22.04.2020 - ADCADA Investments AG PCC and ADCADA International AG

The Liechtenstein Financial Market Authority (FMA) points out that ADCADA Investments AG PCC, Ruggell, registration number FL-0002.600.340-0, and ADCADA International AG, Ruggell, registration number FL-0002.600.350-5, have not been licensed by the FMA.

Especially, ADCADA Investments AG PCC and ADCADA International AG are not allowed to accept deposits in connection with the “adcada.money Hypozins“ as advertised on the website adcada[dot]money.

10.01.2020 - Warning notice regarding EXW Global AG

EXW Global AG has not been licensed by the FMA as a financial intermediary.

The Financial Market Authority Liechtenstein (FMA) points out that EXW Global AG, c/o CONFIDENTIA Treuhand Anstalt, Bergstrasse 10, 9490 Vaduz, registration number FL-0002.620.252-2, has not been licensed by the FMA.

In particular, it is not permitted to provide banking activities or payment services.

The FMA urgently advises to only do business subject to authorisation with financial firms that are authorised by the FMA or other national authorities. Please find all information regarding regulated entities in Liechtenstein in the public register of licensees on the FMA website: http://register.fma-li.li/.

10.10.2019 - Warning notice regarding Smart Valor AG

The Financial Market Authority Liechtenstein (FMA) points out that Smart Valor AG, Vaduz, registration number FL-0002.596.088-9, has not been licensed by the FMA. Smart Valor AG is not authorized to provide financial services subject to licensing in and from Liechtenstein.

Especially, Smart Valor AG is not a “Licensed Exchange”, as stated on the website https://smartvalor[dot]com/en/valor-platform.

The FMA urgently advises to only do business subject to authorisation with financial firms that are authorised by the FMA or other national authorities. Please find all information regarding regulated entities in Liechtenstein in the public register of licensees on the FMA website.

Supplement (February 27, 2020): Smart Valor AG submitted a notification of the commencement of business activities subject to due diligence (operation of an Bureaux de change) on August 2, 2019. The operation of a Bureaux de change does not constitute an activity requiring a licence and these persons subject to due diligence are not subject to prudential supervision by the FMA.

27.09.2019 - Notice with regard to Neufund / Fifth Force (Liechtenstein) GmbH

In a media release dated 16 September 2019, Fifth Force (Liechtenstein) GmbH (Neufund) claims that the platform has received approval from the Financial Market Authority Liechtenstein (FMA) to carry out public offers with a minimum deposit of only CHF 10 and is thus accessible to various investors, including retail investors.

The FMA points out that the FMA has not granted the Fifth Force (Liechtenstein) GmbH, Vaduz, registration number FL-0002.609.744-9, (New Fund), such approval. The Fifth Force (Liechtenstein) GmbH does not have a supervisory license from the FMA and offers by Fifth Force (Liechtenstein) GmbH are therefore not subject to supervision by the FMA. As the operator of the website https://neufund.org/, Fifth Force (Liechtenstein) GmbH is not authorized to provide financial services subject to licensing in and from Liechtenstein.

The Fifth Force (Liechtenstein) GmbH and its offers are not supervised. To date, the FMA has no knowledge that the Fifth Force (Liechtenstein) GmbH carries out activities requiring a license.

Update (3 October 2019): On the basis of FMA‘s notice with regard to Neufund / Fifth Force (Liechtenstein) GmbH dated 27 September 2019, Neufund / Fitfth Force has published a corrigendum of its media release.

18.06.2019 - Warning notice

The Liechtenstein Financial Market Authority (FMA) points out that LOOiX AG, Vaduz, registration number FL-0002.601.150-6, has not been licensed by the FMA, and therefore as the operator of the website www[dot]looix[dot]io is not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA informs that an approval is only issued following a formal licensing procedure. Contrary to the information in its Whitepaper on LOOiX’ website and in the article “E-Sports, Online-Glücksspiel und Blockchain – Die ungenutzte Chance“ of 4 June 2019 LOOiX AG has not obtained any regulatory approval for its business model and the structure of the LOOiX token by the FMA.

The FMA urgently advises to only deal with financial firms that are authorised by the FMA or other national authorities. Please find all information regarding regulated entities in Liechtenstein in the public register of licensees on the FMA website.

28.03.2019 - Warning

In the past, there have been several cases in which persons or companies offering FinTech products or services gave the impression that they had been granted a licence by the FMA even though they had received no such licence.

For this reason, the FMA once again would like to point out that all financial intermediaries licensed by the FMA are listed in a publicly accessible register. This also applies to securities prospectuses approved by the FMA.

The FMA also would like to point out the following:

  • The FMA does not express any judgements regarding business models, initial coin offerings, or security token offerings. Statements to that effect on websites and in the media are therefore incorrect.
  • The FMA does not issue any "non-action letters". This term does not exist in the Liechtenstein legal system.
  • When queried, the FMA comments only on existing licensing, prospectus, and due diligence obligations under the special laws referred to in Article 5(1) of the FMA Act. Beyond that, the FMA does not comment on the legal compliance of business models.
26.02.2019 - Warning notice: Moneeda AG and extauri[dot]com

The Financial Market Authority (FMA) Liechtenstein points out that Moneeda AG, Schaan, as the operator of the website extauri[dot]com is not authorized to provide financial services in Liechtenstein.

The FMA points out that the financial products, offered by Moneeda AG on the website, were not approved under financial market law.

It is highly recommended not to invest on the website extauri[dot]com or react to offers made by Moneeda AG.

25.01.2019 - Warning notice: https://olzgroup(dot)com

The Financial Market Authority (FMA) Liechtenstein points out that there is no connection between the operators of the website https://olzgroup(dot)com and OLZ Wealth Management AG, Bahnhofstrasse 7, 9494 Schaan, Commercial Register No. FL-0002.215.531-7. The operators of the website do not have a FMA authorisation and are therefore not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA urgently advises not to make any investments via the website https://olzgroup(dot)com nor responding to any investment offers made by this company or against transferring money to any account number they might mention. Wrongful claiming the identity of an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

The FMA strongly advise to only deal with financial firms that are authorised by the FMA or other national competent authorities. Please find all the information regarding regulated entities in Liechtenstein in the public register of licensees on our website.

22.10.2018 - Reference to fake insurance policies

The Liechtenstein Financial Market Authority (FMA) was informed by SIKURA LEBEN AG, an insurance company based in Liechtenstein, that fake insurance policies have been issued under the name of SIKURA LEBEN AG in the Italian market. Before concluding an insurance policy, the FMA recommends to look for irregularities and to check whether the insurance intermediary has the required authorization. In case of uncertainties it is recommended to contact the insurance company or the responsible supervisory authority.

05.04.2018 - Warning notice: www(dot)jtcapitalmanagement(dot)com

The operators of the website www(dot)jtcapitalmanagement(dot)com (or a similar form) are purporting to be a company domiciled in Ruggell, J&T Capital Management Anstalt, c/o Gantner & Hasler Treuhandanstalt, Industriestrasse 105A, 9471 Ruggell, Commercial Register No. FL-0002.116.628-6.

The Financial Market Authority (FMA) Liechtenstein points out that there is no connection between www(dot)jtcapitalmanagement(dot)com and J&T Capital Management Anstalt. www(dot)jtcapitalmanagement(dot)com is wrongfully using the name and identity of the aforementioned Liechtenstein company. The operators of the website do not have an FMA authorisation and are therefore not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA urgently advises not to make any investments via the website www(dot)jtcapitalmanagement(dot)com nor responding to any investment offers made by this company or against transferring money to any account number they might mention. Wrongful claiming the identity of an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

We strongly advise to only deal with financial firms that are authorised by the FMA or other national competent authorities. Please find all the information regarding regulated entities in Liechtenstein in the public register of licensees on our website.

27.02.2018 - Warning notice: Unique Global Investment

The Financial Market Authority (FMA) Liechtenstein warns the public against the activities of Unique Global Investment. Unique Global Investment pretends to offer banking and/or investment services in Liechtenstein (e.g. via social media platforms such as Facebook).

The FMA calls attention to the fact that the operators of ugi[dot]direct are not in possession of an authorisation from the FMA and are therefore not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA strongly discourages the public from making any investments via the website ugi[dot]direct. The FMA strongly advises against responding to any investment offers made by this company and against transferring money to any account number they might mention. We strongly advise to only deal with financial firms that are authorised by the FMA or other national competent authorities. Please find all the information regarding regulated entities in Liechtenstein in the public register of licensees on our website, http://register.fma-li.li.

The above-mentioned company has already been subject to warnings by foreign supervisory authorities (Financial Market Authority FMA (Austria) and Federal Financial Supervisory Authority BaFin (Germany)).

31.05.2017 - Warning notice: Questra Holdings Inc./Questra World Ltd./Atlantic Global Asset Management

The Financial Market Authority (FMA) Liechtenstein warns the public against the activities of Questra Holdings Inc., Questra World Ltd. and Atlantic Global Asset Management, both companies pretend to offer banking and/or investment services in Liechtenstein (e.g. via social media platforms such as Facebook). 

The FMA calls attention to the fact that the operators of www.questraworld.es, www.questraholdings.com, www.questrateam.net and www.atlanticgam.es (or a similar form) are not in possession of an authorisation from the FMA and are therefore not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA strongly discourages the public from making any investments via the website www.questraworld.es, www.questraholdings.com, www.questrateam.net and www.atlanticgam.es (or a similar form). The FMA strongly advises against responding to any investment offers made by these companies and against transferring money to any account number they might mention. We strongly advise to only deal with financial firms that are authorised by the FMA or other national competent authorities. Please find all the information regarding regulated entities in Liechtenstein in the public register of licensees on our website, http://register.fma-li.li.

The above-mentioned companies have already been subject of several warnings by foreign supervisory authorities (Financial Market Authority FMA (Austria), Financial Conduct Authority FCA (United Kingdom), Financial Supervision Authority KNF (Poland), National Securities Markets Commission CNMV (Spain) and Financial Services and Markets Authority FSMA (Belgium)).

24.02.2016 - Warning notice: www.launtonwealth.com

The operators of the website www.launtonwealth.com (or a similar form) are purporting to be a brand of an authorized insurance intermediary company in Liechtenstein, Finanz-Control Anstalt, Heiligkreuz 52, 9490 Vaduz, Commercial Register No. FL-0001.536.585-0. The operators of www.launtonwealth.com do not have an authorization of the Financial Market Authority (FMA) Liechtenstein or a domicile in Liechtenstein. The FMA points out that there is no connection between www.launtonwealth.com and Finanz-Control Anstalt.

The FMA points out that the operators of www.launtonwealth.com are not allowed to provide any financial services that are subject to authorization.

The FMA urgently advises not to make any investments via the website www.launtonwealth.com. Claiming the connection with an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

25.09.2012 - Repeated notice by the FMA concerning «Projekt Leontopodium»

In light of the recent increase in complaints concerning «Projekt Leontopodium» (www.leontopodium.org), the FMA Liechtenstein again states that «Projekt Leontopodium» is not registered in Liechtenstein. The website of «Projekt Leontopodium» and the used endowment insurance policies advertised there draw on Liechtenstein's sovereign emblems.

For the information of consumers and to prevent confusion, the FMA again states that the trading of used insurance policies by «Projekt Leontopodium» is not supervised by the FMA and that the FMA has no detailed knowledge of «Projekt Leontopodium».

27.07.2012 - Notice: DGS Marine Group SA / The European & Overseas P&I Insurance

The Financial Market Authority Liechtenstein (FMA) advises that information available on websites which led to the communication dated 23 July 2012 concerning DGS Marine Group SA (Schaan) and The British European & Overseas P&I Insurance have been adjusted.

However, the FMA points out that still both companies have no license by the FMA Liechtenstein to conduct insurance business or provide insurance intermediary services in or out of Liechtenstein.

23.07.2012 - Warning notice concerning DGS Marine Group / British European Overseas P&I

DGS Marine Group SA/The British European & Overseas P&I Insurance have no licence of the FMA Liechtenstein to provide insurance business or insurance intermediary services

The Liechtenstein Financial Market Authority (FMA) alerts that neither DGS Marine Group SA, with headquarters in Schaan, nor the British European Overseas P&I (BE&O) have a license to conduct insurance business or provide insurance intermediary services in or out of Liechtenstein. Activities pursuant to the Insurance Supervision Act and to the Insurance Mediation Act require a regulatory licence by the FMA. Via its homepage, the impression was given that DGS Marine Group SA provides insurance business as an “Agent to the Manager” of the BE&O.